Press Releases
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African Development Bank Group Annual Meetings 2024: President Adesina calls for Bank makeover to attract game-changing private sector investment
30-May-2024 - Dr. Akinwumi Adesina, the president of the African Development Bank Group, today unveiled an ambitious five-point programme to attract much-needed private sector investment to accelerate Africa’s economic transformation and meet the challenges of a host of interlocking global crises.
African Leaders Join African Development Bank’s Call for Action to Reform the Global Financial Architecture at its 2024 Annual Meetings
30-May-2024 - With $200 billion invested in development projects across the continent since its establishment in 1964, the African Development Bank Group is leading the charge in transforming Africa’s development landscape, as a solutions bank. At the institution’s 2024 Annual Meetings in Nairobi, six African Presidents joined the Group’s President Dr. Akinwumi Adesina’s call for action to reform the global financial architecture to unlock more resources to scale up Africa’s economic transformation.
Annual Development Effectiveness Review 2024: Africa Demonstrates Resilience Amid Multiple Crises
30-May-2024 - The latest edition of the Annual Development Effectiveness Review (ADER), released on Thursday, highlights the African Development Bank Group’s critical contributions to the continent’s development priorities in 2023.
41 African countries set for stronger growth in 2024, keeping continent second fastest growing region in the world—African Development Bank’s Economic Outlook
30-May-2024 - African economies remain resilient, despite challenges that are testing economies worldwide. According to the latest African Development Bank Group’s African Economic Outlook, 41 countries on the continent are projected to experience stronger growth rates in 2024 than they did in 2023.
African Development Bank Group Unveils New Ten-Year Strategy 2024–2033
29-May-2024 - The African Development Bank Group unveiled its new Ten-Year Strategy 2024–2033 today, a blueprint to confront Africa’s pressing challenges and to help put the continent firmly back on track towards sustained economic growth and prosperity.
2024 Annual Meetings: African Development Bank President outlines gains of historic 2023 Dakar 2 Summit
28-May-2024 - Since the Dakar 2 Summit, six African countries have set up Presidential-level Councils to drive implementation of the Country Food and Agriculture Delivery Compacts agreed at the summit, while another twelve countries are at various stages of establishing their councils.
2024 Annual Meetings: Africa’s Voice Needs To Be Heard, Says African Development Bank President
28-May-2024 - African Development Bank President Dr Akinwumi Adesina says the world is changing and Africa needs to be at the table. Adesina told more than 150 journalists covering the Bank’s Annual Meetings in Nairobi that the Global South is becoming much more important and that as a result the global financial architecture needs to change:
Burkina Faso: African Development Bank funds two major projects to support agricultural value chains
28-May-2024 - Burkina Faso and the African Development Bank launched the Burkina Faso component of Project 2 of the Food and Nutrition Insecurity Resilience Programme in the Sahel (P2-P2RS) and the Integrated Maize, Soybean, Poultry and Fish Chain Development and Resilience Building Project (PIMSAR) simultaneously in Ouagadougou on 21 May 2024.
African Development Bank Group Annual Meetings 2024: Climate Action Window launches second call for mitigation project proposals in 37 low-income African countries
28-May-2024 - The African Development Fund has launched the second call for proposals through its Climate Action Window (CAW) on the sidelines of the 59th Annual Meetings of the Board of Governors of the African Development Bank Group currently underway in Nairobi.
African Development Bank Annual Meetings 2024: AfDB, UN Women strengthen collaboration to advance women’s economic empowerment
27-May-2024 - A day ahead of the African Development Bank Group’s Annual Meetings, the institution teamed up with UN Women to host a side event showcasing both organizations’ achievements to drive women’s economic empowerment across Africa. The side event was held Sunday 26 May under the theme, The Future of Finance and Women’s Economic Empowerment. It drew leaders and representatives from the public and private sector, civil society organizations and financial institutions.
Annual Meetings offer platform for innovative ideas on global financial reform and provision of resources to develop Africa
27-May-2024 - The African Development Bank’s 2024 Annual Meetings start on Monday in Nairobi, and offer a unique opportunity to collectively promote innovative ideas for reforming the global financial architecture. The shareholders of the Bank, Africa's premier development finance institution, are encouraged to exchange views with a broad range of public and private sector leaders to reach a consensus on the reform needed to raise more finance to help transform the continent.
The African Development Bank approves its new strategy to boost the Kingdom's socio-economic progress
27-May-2024 - The Board of Directors of the African Development Bank Group has approved Morocco's Country Strategy Paper (CSP) for the period 2024-2029. This roadmap will serve the priorities of the Kingdom's new development model to 2035, helping to strengthen the competitiveness and resilience of the Moroccan economy, support strong, sustainable growth, and consolidate the dynamics of economic and social inclusion.
African Development Bank meets to chart a better future for the continent with reform of global financial architecture
25-May-2024 - The African Development Bank Group’s upcoming Annual Meetings in Nairobi are a golden opportunity to showcase the Bank’s successes as a catalyst for Africa’s transformation. Over five days the Bank’s management and governors will meet to exchange ideas and forge new relationships with a range of government and private sector partners on the road to creating a more inclusive, sustainable, and resilient Africa.
The African Development Bank strengthens capacities of civil society organisations to access Africa Climate Change Fund resources
24-May-2024 - The first in a series of training sessions for African civil society organisations (CSOs) on accessing resources of the Africa Climate Change Fund (ACCF) was held on 17 May 2024. The online session was organised by the African Development Bank (AfDB), which established the fund in 2014. The session was very well attended. More than 1400 CSOs from all over Africa attended, demonstrating the strong commitment of African citizens to climate action.
Niger: private sector asks African Development Bank for massive investments to boost country’s economy
24-May-2024 - The private sector in Niger, the vast West African Sahelian country that has faced a years-long security crisis, is calling on the African Development Bank Group to invest massively in the country to further boost Africa’s highest-performing economy in 2024.
Mauritius: the African Development Bank grants $240 million loan to support economic diversification and competitiveness
23-May-2024 - The Board of Directors of the African Development Bank Group approved a loan of $240 million to Mauritius in Abidjan on 22 May 2024 to implement the second phase of the Economic Competitiveness and Resilience Support Program.
African Development Bank at the 10th World Water Forum: showcasing commitment to facilitating access to water and sanitation resources in Africa
22-May-2024 - The African Development Bank Group will highlight the importance of preparation, financing and coordination for water, sanitation and hygiene initiatives across Africa at the 10th World Water Forum in Bali, Indonesia. The Bank and the African Water Facility’s delegations to the world’s largest international gathering of water sector partners will share insights, strategies and stories of sustainable development successes from the continent.
Rwanda: Significant results midway through the implementation of the African Development Bank country strategy 2022-26
22-May-2024 - The Board of Directors of the African Development Bank Group approved the mid-term review of the Country Strategy Paper (CSP) 2022-26 for Rwanda in Abidjan on 21 May 2024. The progress during the first half of the implementation period has been significant.
African Development Bank invests $1.44 billion to support infrastructure development in Nigeria
22-May-2024 - The African Development Bank has invested $1.44 billion to support the development of energy and power, transport, water, and sanitation infrastructure in Nigeria. The Bank’s Nigeria Country Department, Director General Lamin Barrow disclosed this at the Nasarawa Investment Summit 2024, held from 15 – 16 May in Lafia, the Nasarawa State capital. The event was attended by local and foreign investors, representatives of the private sector, and senior government officials.